Monday, May 12, 2014

Online Commerce Videos Rate High


Some 77% of online shoppers, when asked how helpful an online commerce video is, give it a 4- or 5-star rating, according to Invodo’s Q1 2014 Video Commerce Benchmarks Report. The distribution skew towards positive ratings remains consistent from year past, according to the report, which also reveals that online commerce video viewers are almost twice as likely to make a purchase as those who don’t watch videos.

That tallies with recent survey results from Animoto, which found almost three-quarters of respondents reporting being more likely to make a purchase after viewing an online video that explained a product or service.

The same survey indicated that 42% of respondents want to see more product description videos online, with respondents noting a particular interest in content related to electronics. The Invodo study provides some statistics related to engagement with video: the report indicates that almost 1 in every 8 visitors to a commerce web page watch at least some of a video if it’s available on the page. These view rates were higher for videos in the Manufacturing and Construction and Home and Houseware categories, which the analysts note often involve more considered purchases.

Meanwhile, almost two-thirds of video viewers watch to 80% completion, at which point they’re likely to have watched the portion of the video that’s most likely to motivate them to take action.

Finally, almost one-third (31.7%) of commerce videos were viewed on a smartphone during Q1, with an additional 5.6% share watched on tablets. Invodo notes that commerce videos tend to have more influence on mobile devices than on desktops.

About the Data
Video’s influence on purchase likelihood was determined by comparing the number of viewers who purchased to the number of non-viewers who purchased.

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